HIGHLIGHTS

IndusInd Bank is named after the earliest civilizations of the world - Indus Valley civilization. IndusInd Bank was founded in 1994 and has its headquarters in Mumbai, Maharashtra. It is owned by the Hinduja group. The bank has 2 representative offices in London and Dubai. It has 441 branches in India and its current revenue is more than $500 million. It has clearing bank status for both major stock exchanges the BSE and the NSE.

There are various online and telegraphic options available to send money to India from all across the globe via IndusInd Bank. The remittance service to send money to India from the US is called Indus Fast Remit. The Bank of New York Mellon acts as a clearing partner for IndusInd Bank in the US and offers the Fast Remit service.

What's Good About Indus Bank's Indus-Fast-Remit Money Transfer

Free transfer to any bank in India

Attractive Exchange Rates

Set Reminders for Future Transactions

FEATURES

Today's Rate

$ Amount

₹ Exchange Rate

$0 - $1999

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$2000 - $4999

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$5000 - $9999

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Exchange Rate Type

Locked-in

Transfer Fee

Bank Account

$ Amount

₹ Fee

Up to $9999

$0.00

As per Indian regulations, a Foreign Currency Conversion Tax and Service Tax will be deducted from the beneficiary account. This is a small deduction of INR 25 per transaction deducted from the final beneficiary amount.

EDITORIAL REVIEW

With revenue of more than $500 million, IndusInd is a new generation bank founded in 1994. It is owned by the Hinduja group and was initially funded by Indians and Non-resident Indians.

IndusInd provides various remittance services to the NRI’s based in Dubai, UK, and the US. The remittance service provided by IndusInd bank for sending money from the US to India is called "Indus Fast Remit". Indus Fast Remit provides only one way of sending money: Online Money Transfer. The online service uses the Automated Clearing House (ACH) system to transfer funds and Bank of New York, Mellon, carries out the ACH service. You can send money to more than 125 banks in India or a check can be issued to the beneficiary.

Indus Fast Remit provides fixed locked-in exchange rate. The minimum time it takes to reach the beneficiary is 3 days and the transfer through check takes 4 days. There is a per day transaction limit of $5000 and per month transaction limit of $30,000. In a day you can send money to 5 beneficiaries and maximum of 10 transactions are possible in a month to all beneficiaries. The sender needs to be careful and accurate while giving the beneficiary’s information. There is no refund provided by Fast Remit if the funds reach the wrong beneficiary based on the wrong information provided by the sender.

The upside is that there is no transaction fee for the sender but the beneficiary may have to give a minimal amount in foreign exchange service tax. To track the status of fund transfer IndusInd Bank has a local call center support in the US as well as free sms alerts for the recipients in India.

If you are looking for various options Fast Remit may not satisfy you. It provides only one mode of transfer and two modes of receiving money. Fast remittance is not possible through Indus Fast Remit because the process of validation of the sender’s account and transfer of money takes about 5 days. The sender has to plan well before sending the money via Indus Fast Remit. But regular Fast Remit users with good history can enjoy the fruits of loyalty as the money can be remitted in 2 days for them.

Since Indus Fast Remit provides limited choice does not mean that it is unreliable. Ultimately, Indus Fast Remit is a reputable money transfer service with its safe and reliable ACH transfer, zero transfer fee, and guaranteed locked-in exchange rate.

The transfer is slow and takes 5-7 days but the fees is nominal and they offer good rates when the rates are stabilized. They try to play safe with the rates and give customer the value above the average rate( not very high). It is safe, have being transferring money since 2 years now.

The transfer is slow and takes 5-7 days but the fees is nominal and they offer good rates when the rates are stabilized. They try to play safe with the rates and give customer the value above the average rate( not very high). It is safe, have being transferring money since 2 years now.

I don't really worry of how long a service takes to remit money into my bank account, but my experience with IndusInd Bank is that the remittance completes in 5 days. The remittance is generally carefree. Also, at the moment of initiating the remittance, it offers the best exchange rate amongst the other service providers.

I don't really worry of how long a service takes to remit money into my bank account, but my experience with IndusInd Bank is that the remittance completes in 5 days. The remittance is generally carefree. Also, at the moment of initiating the remittance, it offers the best exchange rate amongst the other service providers.

Indus remit is good. Only drawback is they charge service fee. I found Ria money transfer to be better than Indus remit on most occasions in terms of exchange rate and processing time. Here's my referral link if anyone would like to try Ria. xxxxx.yyy

Indus remit is good. Only drawback is they charge service fee. I found Ria money transfer to be better than Indus remit on most occasions in terms of exchange rate and processing time. Here's my referral link if anyone would like to try Ria. xxxxx.yyy

IndusInd Bank - the exchange rates are amongst the best. Only notch lower then Ria. They do charge service tax which typically brings exchange rate lower by 10 paise / $ but even then its better rate then Remitly & Transfast etc. But then their service is slow, is takes 6 business days even when they have debited the account in 2 days only. This is not good. And has room for improvement versus Transfast. Ria, Transfast, IndusInd, Remitly,Xoom are the sites (in same order) to be tried. By the way, Ria also takes long time with ACH.

IndusInd Bank - the exchange rates are amongst the best. Only notch lower then Ria. They do charge service tax which typically brings exchange rate lower by 10 paise / $ but even then its better rate then Remitly & Transfast etc. But then their service is slow, is takes 6 business days even when they have debited the account in 2 days only. This is not good. And has room for improvement versus Transfast. Ria, Transfast, IndusInd, Remitly,Xoom are the sites (in same order) to be tried. By the way, Ria also takes long time with ACH.

One of the best conversion rates and no service charges. The service is reasonably slow, as it takes 5-6 working days compared to Xoom which transfer the money in 4 hours but Xoom offers lower conversion rates. If you have time you can wait I would suggest to use Indusland for better rates and reliable transfer.

One of the best conversion rates and no service charges. The service is reasonably slow, as it takes 5-6 working days compared to Xoom which transfer the money in 4 hours but Xoom offers lower conversion rates. If you have time you can wait I would suggest to use Indusland for better rates and reliable transfer.

Using Indus Fast Remit from more than one year. Best fixed exchange rates. Transparency to what we will get in our account.Deposited in 3-4 days in Indian account. I recommended this service to more than 10-12 friends and all are using it with great satisfaction.

Using Indus Fast Remit from more than one year. Best fixed exchange rates. Transparency to what we will get in our account.Deposited in 3-4 days in Indian account. I recommended this service to more than 10-12 friends and all are using it with great satisfaction.

IndusInd is good. Once initial setup is done then after you transfer to any bank account. It takes around 4 to 5 days and the rates are very good. There is no fees even though they apply taxes still rate is good than others even after taxes. They inform you on their website they will take so many days for initial setup and transfers so I do not think they are slow as they tell you well in advance. If in hurry and want money urgently in India then XOOM is good

IndusInd is good. Once initial setup is done then after you transfer to any bank account. It takes around 4 to 5 days and the rates are very good. There is no fees even though they apply taxes still rate is good than others even after taxes. They inform you on their website they will take so many days for initial setup and transfers so I do not think they are slow as they tell you well in advance. If in hurry and want money urgently in India then XOOM is good

Indus Fast remit does not even reveal their customer service number online straight on their website. Also, when you open a new account, you have to submit all the information - SSN, DoB, Bank info; only to know that they still need you to upload documentation which were never mentioned anywhere on their website. Once you upload a document, there is no way you can take it back if that was not acceptable by them. Also, they have customer service center in New Mexico and the Manager - Celeste is one of the rude customer service manager I have ever come across. Do not just get blinded by few cents, instead use the service which can respond to you and speak respectfully with their customers. These days, Transfast, Axis are giving better rates. I spoke with Axis and their customer service was really polite and helpful. The manager at IndusInd was not even keen on retaining a customer who was ready to leave. At one point she was even upset at me...Worst customer service ever.

Indus Fast remit does not even reveal their customer service number online straight on their website. Also, when you open a new account, you have to submit all the information - SSN, DoB, Bank info; only to know that they still need you to upload documentation which were never mentioned anywhere on their website. Once you upload a document, there is no way you can take it back if that was not acceptable by them. Also, they have customer service center in New Mexico and the Manager - Celeste is one of the rude customer service manager I have ever come across. Do not just get blinded by few cents, instead use the service which can respond to you and speak respectfully with their customers. These days, Transfast, Axis are giving better rates. I spoke with Axis and their customer service was really polite and helpful. The manager at IndusInd was not even keen on retaining a customer who was ready to leave. At one point she was even upset at me...Worst customer service ever.

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